Soybean market.

[danny W1M]

Damn, they're trying their hardest to fill that gap between $9.58 and $9.63 in the NOV contract. Long term, it could be a very good thing if it does get filled. A lot of speculation about rain saving the Midwest beans this morning. Hurting canola prices bigtime here in Canada, even though our crop is suffering from drought, heat blasting it's pods and now D backs are showing up.
U.S. corn is having the same effect of Euro prices even though they're having a shorter crop.

[URL="http://www.agrimoney.com/news/paris-corn-futures-priced-too-low-says-commerzbank--10914.html"]http://www.agrimoney.com/news/paris-corn-futures-priced-too-low-says-commerzbank--10914.html[/URL]

[farming101]

I wonder how long the market makers can push it down.

[farmaholic]

I wonder how long the market makers can push it down.

More crazy talk!! Careful 101, you'll be labelled.

Here's your hat.

[danny W1M]

101,,, NOV closed down $0.3525/bus today,,, it only has to go down another $0.1325 to fill the gap. If forecast rains come through for the Midwest later in the week, I'll say she keeps going down. If the rains evaporate and don't develop, I think we'll see thing stabilize this week and a nice recover next week.

Wow $0.3525USD / bus that's like 44 cents CAD. A kick in the nuts, when we're watching our own bean crop dry up.

[MBgrower]

And our dollar keeps going up. Appears more downside ahead.

[burnt]

The rising loonie has trimmed about 50 cents off the basis lately.

[danny W1M]

ZSX17 gap filled !

Where do go from here?

[farming101]

A bit of a rebound and then down to 9.25? purely a guess

[errolanderson]

A bit of a rebound and then down to 9.25? purely a guess

A number of U.S. analysts now projecting that break on Nov beans. USDA data next Thursday may derail this downward move should lower-than-expected yields surprise traders. But $9.25 beans could push canola toward contract lows.

[SASKFARMER3]

And we all know that canola doesn't follow soy when it's going up because it just can't but when it's a shitty crop in canada it follows soy down. Ah the retarded sister.